Dear Arnab,
You can try to improve the tie by stretching and squeezing the synthetic. This can be done in an iterative manner. You start with a synthetic wavelet or a stochastic wavelet. Next, you force some events on the synthetic to match corresponding events on the measured seismic. This results in a deterministic wavelet that can be used in the next phase of matching events. This step can be repeated a few times until you are satisfied.
Note 1: you will get a better correlation-coefficient r if you reduce the correlation window. Don't compute if over the entire length of the synthetic but focus on the target.
Note 2: stretching and squeezing of synthetics is controversial. You are changing the velocity model at the well location and the question is how much change is reasonable. If your sonic log has already been calibrated by check-shots, there is not much leeway for further modifications. If the logs are bad e.g. due to washouts, you have more freedom.
Best regards,
Paul.
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Paul de Groot
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